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Copyright (C) 1998 Intel Corporation, 2200 Mission College Blvd., Santa Clara, CA 95052-8119, USA. All rights reserved. No part of the article can be reproduced without the permission of Intel Corporation
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The Transformation of the Residential Real Estate Industry* *Copyright (C) 1998 Intel Corporation.All rights reserved. No part of the article can be reproduced without the permission of Intel Corporation, etc.
CASE STUDIES:
Mollie Wasserman: The Agent of the Future
Some people don't believe it," Wasserman says, "I've acquired half my business from the Web site in the two years I've had it." In 1996, her second year, she tripled her business from the year before. And in 1997, it doubled again. From the beginning she's been computerized, today using a Dell Pentium processor-based system which she will upgrade soon.
Wasserman's Web site, http://www.molliew.com/, is based on simple reasoning-buyers and sellers need information. Many are often intimidated by what they perceive as hard sell tactics by many realtors. Wasserman loads her Web site with content, giving consumers the information they hunger for without having to talk to a live person. "Most realtors' Web sites tend to consist of realtors' resumes and listings. Mollie's site has sections on buyer representation, an introduction to the buying process, featured homes, information about the area, two active buying clubs, services for sellers, and much more. "First they want to get educated," says Wasserman, "then they want to get a realtor involved.
But why choose Wasserman as their realtor if they already have so much information? The key is developing relationships. "If I can capture them while they're getting their feet wet and build up a trust, then I've got them later on,"she says. Her Web site is light, friendly, whimsical, and even starts out with an amusing caricature of Wasserman herself. "It's not your typical Web site," she admits, "but customers like it. After finally meeting them in person, they often say, 'Mollie, I feel like I already know you.' " Forms for reply via e-mail bring in five leads per week, one of which will become a buyer or seller.
Wasserman expects her Internet business to grow, while many traditional industry elements struggle. "One-third to one-half of the brokers will be out of business by the year 2000," she predicts. The reason is wide dissemination of information on the Internet. Traditionally, realtors have seen themselves as the keepers of the information-particularly the MLS. "The emphasis on real estate has always been on the listing side, on the seller's side, but I believe the future is with the buyers." Sellers can put the information out there on their own, but buyers need hand holding.
Despite this view, Wasserman has seen an uptick in the sellers' side since her Web site began advertising a "fee-for service" program for sellers-another area the traditionalists frown upon. "As good as this program is, I've been told by my managers that I can't advertise it or I'd be lynched," she jokes. "It's there on the Web, but only a small percentage of brokers even know what the Web is." Interestingly, Wasserman has gotten three listings from the Web, but none of them have been fee-for services. "It's put my name out there and gotten me the business," she says.
As befits an agent of the future, Wasserman has a positive outlook on the Internet and computer automation in general. "I love it because it takes the ticky-tacky stuff out of my job and helps me do what I really love-matching homes with buyers. A lot of my colleagues are so afraid of the future, but I don't feel that way at all.
Contributing Author
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